India’s current account crisis weakens Rupee
India’s high import demand for petroleum (which is nearly price inelastic) and gold (driven by a shortage of investible asset classes in a high inflation environment) are primarily responsible for India’s burgeoning import bill. In fact, adjusting for India’s imports of Petroleum products and Gold would turn India’s current account deficit (CAD) into a hefty current account surplus.
Things Look Gloomy for FY 2013 – Despite a large merchandise import bill, Read more
BJP Karnataka Website Hacked – BJP MPs / MLAs Serving Erectile Disfunction Drugs
The Official Website of the Ruling BJP Government in Karnataka is Hacked and the Pages of MLAs and MPs are diverted to serve Erectile Dis-function Drugs 
The Hackers have clearly taken over categories of the WordPress Hosted Site so that the main page is intact but encashing on the Google Juice of Pages of MPs and MLAs. Looks like a SQL injection in
Warning: array_key_exists() [function.array-key-exists]: The second argument should be either an array or an object in /home/dhyeya/bjpkarnataka.org/wp-content/themes/pagemash/save.php(1) : eval()'d code on line 1
The following screenshot proves Read more
S&P Downgrades Outlook on India to Negative
S&P has maintained India’s sovereign rating at BBB- but the outlook has been revised downward to ‘negative’. This action is based on factors that are already widely known. Importantly, at this stage it is just an outlook change and not a ratings downgrade. To that extent, it is more of a warning of increasing vulnerabilities of the country. Nonetheless, the action can impact Indian Rupee in the near term, which is already under pressure and perhaps raise external borrowing costs for some of the corporate. However, the silver lining could be that this action could exert pressure on the government to act on fiscal front (possibly by raising the diesel prices etc) as well as on policy front. Read more
Congress MP Abhishek Manu Singhvi Video is More Hype than Viral / Disruptive
Everybody knows Congress Rajya Sabha MP, Mr. Abhishek Manu Singhvi. If not then refresh your memories to the days when Shri Anna Hazare sat on fast for weeding out Corruption in India and then you would hear a Bald Man come and make irrelevant statements on behalf of Congress Party and attack Shri Hazare Ji. That Bald Man is none other than Mr. Singhvi.
So what is Mr. Abhishke’s Sex CD Row All About ? – We are not sure if the contents of the CD is Fabricated or original, let us leave Read more
Department of Homeland Security Finds Errors in Infosys Visas
On the 16th of April, Dalal Street Insiders broke the news that their was a significant scrutiny of applications made by Infosys and TCS with reference to their H1-B Visa Applications.
The US Department of Homeland Security (DHS) has advised Infosys Ltd that it has found errors in a significant percentage of its Form I-9 (visa-related forms). We believe that if the DHS concludes that there has been a systematic policy of misuse/violation of visas, there could be penalties or other strictures that could be imposed. This is the first instance of Infosys acknowledging that something amiss has been found by DHS in its visa enquiry.
We would also like to highlight that Infosys is going on trial in August in a case filed by one of its employees (Jack Palmer) on allegations of B1 (business) visa misuse, and this event could strengthen the case against Infosys.
Refer Section 2.9 of the SEC Filing by Infosys.
Historical Indian Repo / Reverse Repo Rates vs Inflation Vs CRR
We’d like to share with you a chart that shows the Key Interest Rates in India – Repo Rate, Reverse Repo Rate, CRR and Inflation indicators WPI and CPI.
What is Repo Rate – The RBI’s lending rate or liquidity injection rate is the only ‘independently varying’ policy rate.
What is Reverse Repo Rate ? This is the liquidity absorption rate and is pegged at 100bps below the repo rate to
help improve monetary transmission.
CRR – Cash reserve Ratio – Proportion of deposits required to be held in cash by banks with the RBI.
The Following Chart Shows Read more
2G Wireless Spectrum Scam now for Presidential Reference – Congress @ its Worst
The scam scarred Congress Government is trying hard to save its face but in vain. The more desperate it gets the worse it is facing from the people of India. Since its Corrupt Minister A. Raja’s involvement in the 2g Spectrum Scam, the government has already filed a review petition and an interlocutory application. Now it has approved a presidential reference which would seek the Supreme Court’s view on key questions regarding 2G spectrum allocation.
What is a presidential reference?
It is the power to make a presidential reference under Read more
PM’s Economic Adviser Trashes the PM & Policies – Can Dr. Singh Save the Disgraceful Exit in the Offing ?
I am not quiet sure who is the brain behind the current state of Paralyzed affairs in the ruling Congress / UPA. However, it pains to see once upon a time the most sought after Economist, Dr Manmohan Singh getting a disgraceful exit from the post of Prime Minister of India and potentially the Worst End to his career.
Montek Singh, the Deputy Chairman of Planning Commission openly opposed the Government’s move to file a revision petition against the 2G Telecom Spectrum Scam Order, but the arrogant government of Dr. Singh went ahead and will likely invite more embarrassment and insult.
Now, the World Renowned Economist Read more
Karnataka Citizen Services Act – Sakala Effective Statewide from Today
64 years after India’s Independence, Citizens of Karnataka State get a breather and can proudly say, I can get my Birth Certificate within 3 days or my Driving License within 7 Days. This is made possible only because of the Government of Karnataka headed by Shri D V Sadanand Gowda [ever smiling CM] enforcing the Karnataka Guaranteed Citizens Services Act, 2011 within a short period of 4 months. Thanks to Shri Anna Hazare as he shook the sensible leaders of BJP in Karnataka to offer this Guaranteed Services to Citizen by the Government and that too without Bribes 
What Services are Covered under the Sakala / Karnataka Citizen Services Act ?
It includes everything from BBMP, Municipal Corporations, Police to Commercial Tax, RTO, Village Panchayat, Labour Department, Education – SSLC / PUC, ESIC etc. Services under 18 Different Departments Read more
How Big is the Coal Blocks Scam in India ?
Yet another feather in the Scandals / Scams Cap of Ruling Dr Manmohan Singh Government – Coal Blocks Allotment Scam. Indian Media carried reports of the draft report by the Comptroller and Auditor General (CAG) on the losses incurred by the Government because it gave away coal blocks without any consideration in the past. The number quoted was Rs10.77lakh crore (~$211bn) and the time period was 2004-2009 [Government of Congress under Manmohan Singh]
However, to save the embarrassment of none Read more